How to Ease Recession Anxiety & Reconnect with Your Team

avatarby Leslie Rugaber, CEOLast updated Jan 26, 2023Category: Meetings, Video, Virtual Events

To boost employee confidence, it’s critical for company leaders to connect with their teams in meaningful ways, including high impact video broadcasts and hybrid events.

This month, Amazon, Microsoft, and Google announced significant layoffs affecting upwards of 40,000 employees, with other companies expected to follow suit in the coming months. Some economists are forecasting a recession before the end of the year, leaving many employees concerned about their job security.  

On the flip side, we know from working with large enterprises over the years that, by the time the layoff announcements hit the news, these company leaders have already begun planning for the future and recalibrating their organizations to accelerate through the economic and industry changes. The goal for leaders now is to effectively communicate this positive message to the team members who remain, and rebuild employee confidence.

Rebuild Employee Confidence

To ease recession anxiety, it’s critical for leaders to communicate with employees immediately after organizational changes are announced. Speaking openly and honestly about economic uncertainty and informing your team about your plans for the future is the best way to boost confidence.   

Connect with Your Employees

Employees want to feel cared for, valued, and included. Especially during challenging times and high-pressure situations, we all look for a human connection, and we rarely find it in an email or hastily assembled virtual meetings. To truly connect requires seeing and interacting with others in a meaningful way. With much of the workforce remote, company leaders can now make that connection with high impact video broadcasts and hybrid meeting solutions. 

Communicate Facts about the Layoff

Lack of information fuels recession anxiety, so it’s important to be as transparent as possible with your team. Some information you may want to cover when communicating the layoffs to remaining employees is why the layoff took place, how many people were affected, who was affected, and how layoff decisions were made. You may also want to clarify what changes have been made to the reporting structure, how individual workloads will change, and what the new expectations are.

Outline Plans for Moving Forward

To motivate employees and convey that their jobs are safe, consider sharing information about cost-saving methods that have already been taken, or plans for bringing in new customers or new business to grow and rebuild. Discuss initiatives to keep the company operationally efficient, and the positive changes you anticipate as a result of the workforce changes. Define a common goal for everyone to work toward, and outline a bright future where employees are valued and appreciated.

Don’t Go It Alone. Worktank Can Help.

Recession anxiety is real, and so are the challenges of rebuilding employee confidence and trust. Worktank’s video production and hybrid meeting solutions can help you easily communicate and connect with your team, so you can focus on your company’s the message.

For a fraction of the cost of producing an in-person event, our production team manages every technical element of your livestream or recorded video broadcast to ensure a seamless delivery. We also lead show creative, including video and motion graphics development and post-production, to ensure your virtual or hybrid event is visually and narratively cohesive.

To learn more about Worktank’s video production and hybrid meeting solutions, contact us online or give us a call at 877-975-8265.

Leslie Leslie

Leslie Rugaber, CEO

As CEO, Leslie is a driving force behind the overall vision of Worktank, and is responsible for company strategy and culture. Learn more about Leslie.

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